Housing Forecast Points to Market Stability in 2012
After declining 12 per cent in 2010, residential unit sales through the
Multiple Listing Service® (MLS®) in BC are forecast to rise by 3 per cent
to 77,000 units in 2011 and a further 4 per cent to 80,000 units in 2012.
However, BC home sales will remain relatively low by historic measures,
falling short of their 10-year average of 87,600 units. While low mortgage
interest rates are expected to persist through 2012 accommodating
housing demand, headwinds in the global economy will act to restrain BC
economic and employment growth...
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